360: Bill Barhydt on Building A Crypto Bank

We will look back on the announcement of the Fed creating a 4% [inflation] target as the pivotal moment for Bitcoin going from technology-enabling, provably scarce digital money to [realizing] this is necessary for having a real... provably scarce digital asset for the globe that is not governable by any central government.

I would say, by and large, the people working in government in the United States are not corrupt; they're misguided, miseducated, [and] misinformed but not overtly fraudulently corrupt. On the other hand, a lot of governments in places that are dirt poor are overtly corrupt, and that manifests itself in terms of worthless currencies, worthless economies, etc. In the long-term, Bitcoin solves that.

There are a very small number of people that are holding the vast majority of Bitcoin out there, and I think, as a community, we should all be doing our part to spread the wealth as they say and incentivize people to... want to invest in it because it's in their best interest to have a small percentage—at a minimum—of their net worth [invested].

The amount of income disparity created and wealth disparity created by government-initiated inflation is just mind-blowing.

The government never had a stated goal to protect the value of your money. That has never been on the table. They've never said, 'Hey, the role of the central bank or the role the Treasury is to protect your wealth.' Their role, ultimately, is to manage a house of cards.

Every government-issued currency so far has failed, and it appears that trend has no reason to stop and will continue unabated.